It Will be Interesting, While Rough on Commons...
Friday ends the Stay, so might hear something.
If not, should be on or before May 22.
CCAA Regs require notice within time limits.
A coming out of CCAA will probably be in the paper.
If commons actually survive on through to collection of an arbitration award, that is when it will be toughest - when Crystallex exits CCAA and goes dark for several years during ICSID and afterwards for collection. It behooves Crystallex to get out of CCAA, so the back-room undisclosed shenanigans of wealth transfer can really get rolling.
The purported talks with Ven for an early settlement... Seems Venezuela hates when shareholders profit off of their country, so lacking commons may be beneficial to an early settlement.
As far as commons being needed for arbitration... Maybe.
Not so sure why commons are actually needed to pursue arbitration.
ICSID does not require the filing party have equity holders.
I understand the judge has much latitude in CCAA. Theoretically, judges take no sides. It would be very unusual for the judge to protect commons, because the CCAA regulations note that equity holders of an illiquid company hold no interest, and have no right to vote on the Plan of Arrangement/Compromise. This has been historically followed in CCAA.
Although, like the "smackdown," anything can happen.
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